Plantible Foods announces $4.6 million in investment for a proprietary plant protein created by harnessing lemna, an aquatic plant commonly known as duckweed which is considered to be one of the most sustainable and nutrient-dense plants in the world. Lemna is reportedly 100 X more protein efficient than soy and 40 X more than peas.
The round was co-led by Hong Kong’s early-stage investors Vectr Ventures and Lerer Hippeau in New York. Other participants included eighteen94 Capital, Kellogg Company’s venture capital fund, and FTW Ventures.
“At Plantible, we are accelerating the food revolution by creating the next generation of plant-based food ingredients that don’t force consumers to make compromises on taste, nutrition, or price when shifting to a plant-based diet.” says Tony Martens, co-founder of Plantible Foods. “We are extremely excited to welcome this stellar group of investors aboard our journey.”
The process used with lemna results in a neutral-tasting protein powder that contains all essential amino acids. Plantible’s proprietary Rubi Protein has been proven to mimic the functionality of egg white, dairy proteins and even myosin, the meat protein, making it applicable across a wide range of food applications including plant-based meats, dairy alternatives, baked goods and beverages.
Alan Chan, Managing Partner at Vectr Ventures, commented: “As momentum in the plant-based protein space continues to grow, there is a massive opportunity to produce a truly distinct and high performing ingredient that addresses the evolving consumer needs. We are very excited to work alongside the Plantible team and a group of likeminded investors to create a new market standard in the plant-based ingredient space.”
Plantible Foods states it will use the funds raised to accelerate its commercialization activities, and that it expects to see Rubi Protein™ available to their first customers by the end of the year.
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